Sceptre Ventures Announces Private Placement and Shares for Debt Transaction

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VANCOUVER, BC / ACCESSWIRE / January 27, 2022 / Sceptre Ventures Inc.("Sceptre" and/or the "Company") (NEX:SVP.H) is pleased to announce a non-brokered private placement financing of up to $200,000 (the "Private Placement").

The Private Placement will consist of the issuance of up to 3,333,333 common shares (each, a "Share") of the Company at a price of $0.06 per Share.

Proceeds of the private placement will be used for finding a Qualifying Transaction and general working capital.

The Company also announces that it has entered into shares for debt agreements with certain creditors of the Company, wherein the Company proposes to issue an aggregate of 8,745,669 common shares at a deemed price of $0.06 per share in satisfaction of an aggregate of $524,740 owed by the Company to the creditors (the "Debt Settlement").

All securities issued in the Debt Settlement and Private Placement will be subject to a statutory hold period expiring four months and one day after closing.

Completion of the Debt Settlement and Private Placement is subject to a number of conditions, including, without limitation, receipt of all regulatory approvals, including approval NEX board of the TSX Venture Exchange (the "Exchange").

None of the securities sold in connection with the Private Placement will be registered under the United States Securities Act of 1933, as amended, and no such securities may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Sceptre Ventures Inc.

Sceptre Ventures Inc. is a Capital Pool Company ("CPC") within the meaning of the policies of the TSX Venture Exchange and has not commenced commercial operations and has no assets other than cash. Sceptre is currently engaged in identifying and evaluating businesses and assets with a view to completing a Qualifying Transaction under the TSXV's CPC policy.

For Further Information:

Suite 1450-789 West Pender Street
Vancouver, BC, V6C 1H2, Canada
Tel: 604-688-4219
Email: mitchell@sceptreventures.com

FORWARD LOOKING INFORMATION

Statements in this news release that are not historical facts are forward-looking statements. Forward-looking statements are statements that are not historical, and consist primarily of projections - statements regarding future plans, expectations and developments. Words such as "expects", "intends", "plans", "may", "could", "potential", "should", "anticipates", "likely", "believes" and words of similar import tend to identify forward-looking statements. Forward-looking statements in this news release include statements about the Consolidation and its terms. These forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those expressed or implied, including, without limitation: (i) the Company's inability to complete the Private Placement and Debt Settlement; (ii) the Company's inability to raise all the funds and our proposed use of proceeds for the Private Placement; and (iii) receipt of approvals of the Exchange. Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. The Company cannot assure that actual events, performance or results will be consistent with these forward-looking statements, and management's assumptions may prove to be incorrect. These forward-looking statements reflect current expectations regarding future events and operating performance and speak only as of the date hereof and the Company does not assume any obligation to update forward-looking statements if circumstances or management's beliefs, expectations or opinions should change other than as required by applicable law. For the reasons set forth above, readers should not place undue reliance on forward-looking statements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

SOURCE: Sceptre Ventures Inc.



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https://www.accesswire.com/685983/Sceptre-Ventures-Announces-Private-Placement-and-Shares-for-Debt-Transaction

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